Based on the quality of this particular home, my rent estimate may be low.Note: you have to consider other factors.

What factors should I prioritize when choosing the best approach for my future success in real estate? 

I may be 19 but that does not have any factor in how I efficiently operate my business, as you can see.

And in part, it depends on the investors and capital that you have access to (this tends to play a factor in many decisions when raising outside capital).If you do want to go the fund route, you might want to consider using Avestor. 

I also have rentals in Detroit that I get far higher rents with cash paying tenants than I would a section 8 tenant.There are a lot of factors at play and the answer to "why would the government allow our tax dollars to be spent this way?"

Note: I'll caveat: I believe that other factors should be considered when analyzing the market as well (i.e. economic growth/stability, low crime rate, affordability, etc.)

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

@David SamIt depends on a number of factors. 

You'd be surprised, sometimes there are buyers who just want to own a piece of land, even if it's not the most desirable and of course price is a factor.

Detroit is appreciating rapidly, due to many factors, and it still cash flows or at least allows you to operate near break even.